Clinicallabo…, Home Buyer in Valencia, CA

pmi on 5% down conventional loan

Asked by Clinicallaboratoryscientist, Valencia, CA Tue Feb 26, 2013

Help the community by answering this question:


There is another excellent loan program offered by UNION BANK that is 5% down No PMI. This program is for first time buyers and there are certain qualifications like income limits but it another opportunity as well.

I would be happy to connect you with the VP of the local branch in Santa Clarita. This loan program is similar to what is terms "portfolio loan" which is may not under guidelines like FHA or FANNIE MAE so provides options. Also great if you are looking at condo or townhomes where there needs to be an Approved HOA.

For more information please feel free to contact me at any time. I may be reached on my personal direct line at 661.290.3759. Over 24 years experience to help you find the right home.


Errol Valladares
CA DRE #01020758
Santa Clarita Valley Latino Chamber of Commerce - Board member
25124 Springfield Court #100
Valencia CA 901355
661.713.1888 c
661.290.3759 o

Providing real solutions for your real estate needs for over 24 years!

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0 votes Thank Flag Link Wed Feb 27, 2013
Are you aware of the Economic Opportunity Mortgage? First time buyer (or not owned in the last 3 years according to your tax returns), above a 620 FICO Score(this is a score thru the 3 credit agencies) & a household of less than $77,000! This loan is slightly higher today at 4% BUT, you only need 3%(of the sales price) of your own money, a gift (if you need it) up to 2%(of the sales price) & you can ask for a seller credit up to 3% of the sales price.
Another way is to "pay up front" & not have MI again.
We can be reached at 661-286-8672 for additional information if this particular progam does not fit your needs.
Thanks for your time, Dwight Hawkins
Realty Executives-Valencia
0 votes Thank Flag Link Tue Feb 26, 2013
Let me know if you would like a referral to a quality, professional lender that will qualify you and see the best loan for your and your family. There are 5% and lower down payment Conventional Financing loan available but you need to learn the best option for you.

Also let me know if you would like a referral to Home Insurance Companies working locally in the Santa Clarita Valley. Word of the mouth is the best advertisement one can receive.

Your Friend & Realtor,

Tony Lewis RE/MAX of Valencia 661-510-7975
Web Reference:
0 votes Thank Flag Link Tue Feb 26, 2013
We would need to know other factors in order to give you a good idea of the PMI but you can try for yourself using a PMI Calculator. Here is a link to a good one:

Good luck
0 votes Thank Flag Link Tue Feb 26, 2013
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